Even though the company said it would continue with its original plan to roll out its network, executives acknowledged that the speed at which new cities are added to the network may change depending on the economy.

The current plan calls for the company to extend its network to several cities in 2009, including Chicago, Atlanta, Las Vegas, Seattle, Honolulu, and Charlotte, N.C. New York, Boston, Washington, D.C., Houston, and San Francisco will be added the following year.

Clearwire's network uses a 4G wireless technology called WiMax, which provides much faster speeds than current 3G cellular technology. The company is already offering service in Baltimore and Portland, Ore. Clearwire also operates some fixed-wireless networks in other areas around the country.

Chief executive officer Ben Wolff expressed confidence that his company has enough of a lead to take on the competition. "Clearly, a nationwide network will not happen overnight," he said. He added that competitors will not have ubiquitous coverage either from the start, and that it will take time for all players to expand their footprints.

As for the fact that Clearwire's investors have had to take write-downs already on their investment, CFO David Sach said those write-downs were merely taken due to accounting rules. And he said they shouldn't be viewed as a reflection on the company's future prospects.

About the author

Marguerite Reardon has been a CNET News reporter since 2004, covering cell phone services, broadband, citywide Wi-Fi, the Net neutrality debate, as well as the ongoing consolidation of the phone companies. E-mail Maggie.
See full bio